Meaning: This quote by Hjalmar Schacht, a prominent German economist during the early 20th century, reflects the contentious issues surrounding the Treaty of Versailles and its impact on Germany. The Treaty of Versailles, signed in 1919, imposed significant territorial and financial reparations on Germany following its defeat in World War I. Schacht's quote captures the sentiment prevalent in Germany at the time, where the country's ability to pay reparations was directly linked to the revision of territorial arrangements and the acquisition of colonial territories.

The Treaty of Versailles, which marked the official end of World War I, had far-reaching consequences for Germany. It required the country to cede territories to neighboring countries, demilitarize certain regions, and make substantial reparation payments to the Allied powers. The treaty also placed strict limitations on Germany's military capabilities and imposed significant economic burdens on the nation. These punitive measures were deeply resented in Germany and fueled a sense of injustice and desire for revision.

The specific references in Schacht's quote to the "Corridor" and "Upper Silesia" are significant. The "Corridor" refers to the Polish Corridor, a strip of land that provided Poland with access to the Baltic Sea, effectively separating East Prussia from the rest of Germany. The loss of this territory was a highly contentious issue in Germany, as it not only affected the country's territorial integrity but also disrupted its access to important ports. Upper Silesia, an industrial region with a substantial German population, was also a point of contention due to its contested status between Germany and Poland.

Schacht's assertion that Germany could only pay reparations if these territories were handed back from Polish possession reflects the prevailing sentiment in Germany that the Treaty of Versailles was unjust and unsustainable. The idea that Germany's ability to make reparations was contingent on territorial revision was a common argument put forth by German politicians and economists at the time. The sentiment was fueled by a strong nationalist fervor and a desire to rectify what was perceived as territorial injustices imposed by the treaty.

Furthermore, Schacht's reference to the need for "colonial territory" reflects Germany's aspirations for overseas possessions, which were curtailed by the treaty. Prior to World War I, Germany had established a colonial empire in Africa and the Pacific, but the Treaty of Versailles mandated the relinquishment of these territories. The loss of colonies was a significant blow to German national pride and economic interests, and there was a widespread belief that the acquisition of colonial territories would provide Germany with the resources and economic opportunities necessary to meet its reparation obligations.

Overall, Schacht's quote encapsulates the deep-seated grievances and aspirations that characterized Germany's response to the Treaty of Versailles. It underscores the interconnectedness of territorial revision, colonial ambitions, and the economic burden of reparations in shaping Germany's post-war trajectory. The sentiments expressed in the quote foreshadow the intense diplomatic and geopolitical maneuvering that would ultimately lead to the revision of the treaty's terms and the reconfiguration of Europe's political landscape in the interwar period.